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Incision Capital Management Portfolio holdings

AUM $103M
This Fund
S&P 500
This Quarter Est. Return
+3.05%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$110M
AUM Growth
–
Cap. Flow
+$108M
Cap. Flow %
98.35%
Top 10 Hldgs %
100%
Holding
6
New
6
Increased
–
Reduced
–
Closed
–

Top Buys

Rank Stock Value
1
CROX icon
Crocs
CROX
+$27.2M
2
EQX icon
Equinox Gold
EQX
+$20.8M
3
SE icon
Sea Limited
SE
+$20.7M
4
TECK icon
Teck Resources
TECK
+$20.6M
5
CVE icon
Cenovus Energy
CVE
+$19.1M

Top Sells

No sells this quarter

Sector Composition

Rank Sector Weight
1 Materials 41.65%
2 Consumer Discretionary 41.41%
3 Energy 16.88%
4 Miscellaneous 0.05%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CROX icon
1
Crocs
CROX
$5.83B
$27.8M 25.21%
+325,000
New +$27.2M
EQX icon
2
Equinox Gold
EQX
$15.7B
$23.2M 21.01%
+1,650,000
New +$20.8M
TECK icon
3
Teck Resources
TECK
$34.6B
$22.7M 20.64%
+475,000
New +$20.6M
CVE icon
4
Cenovus Energy
CVE
$58.5B
$18.6M 16.88%
+1,100,000
New +$19.1M
SE icon
5
Sea Limited
SE
$72.5B
$17.9M 16.2%
+140,000
New +$20.7M
GLD icon
6
PUT
SPDR Gold Trust
GLD
$154B
$58K 0.05%
+200,000
New +$76.4M

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AIA
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Incision Capital Management's Q4 2025 Portfolio in Review

Q4 2025 is the first quarter with a 13F filing on record for Incision Capital Management, which disclosed 6 positions worth $110M. Its ten largest holdings account for 100% of the portfolio.

Its largest position is Crocs: 325,000 shares worth $27.8M.

By sector, the portfolio is most concentrated in Materials at 42% of assets, followed by Consumer Discretionary and Energy.

  • Incision Capital Management's largest Q4 2025 buy was Crocs: 325,000 shares worth $27.8M.
  • Incision Capital Management's ten largest holdings make up 100% of its $110M portfolio in Q4 2025.
  • Incision Capital Management disclosed 6 positions in Q4 2025, its first 13F filing on record.

Based on Incision Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.